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Program Sumnary <br />Page <br />60 The tiotal of all loans secured by the PrOPertY may exceed <br />estimated after�jazprovement market of <br />s property, <br />7, DO.=Oweirs' must: not be eligible for a necessary assjstancgo through <br />other state or federal. programs, Including MFA Home Improvewnt Loans <br />and Home Energy Loan5., Howeverf funds may be coordinated <br />programs provided the other program are used to the greatest extent <br />T <br />• Borrower <br />maintaln hazard insurance, On the Improved <br />propertyle <br />XXX0 LVrovemenr ElIgibiltrij <br />The Revolving Loan improvements to make a dwe2ling more safee •T P-rOv1de funds r <br />habitable* + + <br />effIclent o <br />Improvements by an inspection <br />performed .i the <br />staff of an *' 11! I a q <br />« a of <br />necessary Improvements cannot exceed <br />Improvements All must: bei permanent ff it //. Examples !! <br />repair or replacement of furnaciies, roofsiiiii, electr1cal ! plum systems, <br />insulation., anid <br />construction ramps, <br />r <br />Biased' <br />i ; Rehabi2itatIon Loan <br />contract Program Admi n1s, traitors will be 1nvIted to delivery <br />progremiiiiiii An amount not to exceed 14% of total funding may be requested <br />for adminillstrative, expenses. <br />All applications will bei processed on ." first come first served basis* <br />given however,, priority w111 be # <br />a) appillications, of an emerqeni yi naturs, (natural disasters and systems or <br />r <br />_ and <br />(b) applications necessary I n r a r E weatherlzatlon <br />Improvements i II + • aF + r i + <br />The Adm1nisterIng Entity Is respionsib.Ze # dietermInIng the <br />i <br />,Income,, assetzle affordabllity, and necessary ImProvements for each <br />I <br />After + loan package <br />Entity <br />the package to MHFA <br />for review. Upon <br />approval, MHFA W112 <br />notify the <br />Administering Entity <br />of aPProval. and' supply the ° necessary <br />close s <br />i I I I I a �, Entity <br />will _ i.. loan* <br />record the <br />Mortgageme, monitor the r # work- al i # <br />with the <br />h o a r <br />worki is completed <br />satisfactorily and <br />+ y <br />ciontract:oir payment, <br />710011,1 ( 1 1-11 8 rF ) <br />